- A score takes into account all these categories of information, not just a few.
There is no single data or single factor that can determine the score alone.
- The importance of any factor depends on all the information included in the credit report.
For some people, one particular factor may be more important than for others with a different credit history. Also, when you change credit report information, it will also change the importance of the factors that determine your score. Therefore, it is impossible to say exactly what is the importance of a single factor in determining the score, even the importance levels shown here are for the general population and will be different for different credit profiles. The important thing is the combination of information, which varies according to the person and, over time, for a particular person.
- The FICO® score only examines the credit report information. However, lending institutions examine many things when making a credit decision, for example, your income, how much time you have worked in your current job, and the type of credit you are applying for.
- The score takes into account the positive information as well as the negative credit report. Late payments will lower the score, but setting or restoring a good compliance habit will improve the score.